Michigan iGaming revenue recorded at $170m in February

Added: March 22, 2023

Category: iGaming, Industry News, Operator News

Michigan iGaming revenue recorded at $170m in February

In the month of February, Michigan’s iGaming operators made a combined over 170 million dollars.

The market’s headline figure of just over 170 million dollars earned in the month represents a nearly 9% decline from January, however, it also constitutes a year-over-year increase of over 17%.

Breaking down the figures, the online gaming market continued to make up the majority of the total revenue at over 148 million dollars. Just like the combined figure, Michigan’s online gaming revenue declined slightly compared to the month prior, which was recorded at over 153 million, however, it also grew year-over-year by over 20% from 122 million dollars.

The online gaming market’s adjusted figures tell a very similar story, with its February revenue falling by just under 4% from January’s 138 million dollars and still representing a 20% increase from 2022’s February statistics.

Michigan’s online sports wagering market, on the other hand, saw a larger decline in the month, going from over 33.5 million dollars recorded in January to 22.5 million dollars in February. The market’s adjusted figures saw an even larger decline, going from just under 18 million dollars in January to 8.5 million dollars in February.

Combined with January’s results, the first two months of 2023 have proven to be quite fruitful for Michigan’s operators, as they managed to achieve a combined revenue of just under 300 million dollars so far in the year. This makes for an over 25% increase from the year prior, as Michigan’s gambling businesses made about 235 million dollars in 2022’s first two months.

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